https://www.miningweekly.com
Coal
Coal
coal

Stanmore's coal sales soar in March quarter

9th April 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Takeover target Stanmore Coal has reported another solid quarter during the three months to March, with run-of-mine (RoM) coal production reaching 813 000 t.

The March quarterly RoM production was down 6% on the 864 000 t produced in the previous quarter, but up by 7% on the previous corresponding period.

In the year-to-date, Stanmore has produced 2.38-million tonnes of RoM coal, up 16% on the previous corresponding period.

Saleable coal production in the March quarter increased by 9% on the previous quarter, from 609 000 t to 665 000 t, but was down by 4% on the previous corresponding period. In the year-to-date, saleable coal production increased by 13% to 1.89-million tonnes.

Total coal sales for the quarter also increased by 24% on the previous quarter, to 615 000 t, but declined by 17% on the previous quarter, while year-to-date coal sales increased by 12%, to 1.83-million tonnes.

Stanmore on Thursday maintained its full-year production guidance of 2.35-million tonnes at underlying free-on-board costs of A$107/t coal sold.

The company recently became the target of a takeover offer from shareholder Golden Investment, which will be offering Stanmore shareholders A$1 for each of their shares held.

Since announcing its intention to launch the takeover offer, Golden Investment has increased its shareholding in Stanmore from over 31% to around 51% through the purchase of on-market shares.

Edited by Creamer Media Reporter

Comments

Showroom

Alco-Safe
Alco-Safe

An unmanned breathalyser that is made to be tough and simple to use. Can be used in any environment for operator-free breathalyser testing.

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.199 0.232s - 107pq - 2rq
Subscribe Now